Systems and methods for selectively accessing or using financial account data for subsequent risk determination
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United States of America Patent
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Jan 18, 2011
Issued Date -
N/A
app pub date -
Nov 20, 2002
filing date -
Nov 20, 2001
priority date (Note) -
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Abstract
Systems and methods are provided for selectively determining when and from what source to access information received from a demand deposit account (DDA) associated with a given check or other promissory payment transaction, as well as for selectively incorporating the DDA information into a risk assessment for the transaction. Information received from the DDA can include an indication of the existence of sufficient funds in the account (or lack thereof) to cover the check in question, as well as a current status code for the account. Use of the DDA information may be integrated into an overall risk assessment process performed for the transaction, such that the influence of negative factors in one part of the risk assessment may be mitigated by other factors in the risk assessment and such that overall effectiveness of the risk assessment is enhanced. Systems and methods for selecting an access path for accessing a DDA to settle a promissory payment are also provided.
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